Former Broker Evan Kochav Sentenced to 8 Years

In March of 2015,
we posted a blog regarding the indictment and charges against former World Equity Group
broker Evan Matthew Kochav (CRD# 4707447). At the time, he was accused
of “violating firm policies and engaging in prohibited activities.”

Specifically, Kochav was accused of controlling customers’ brokerage
accounts and allegedly stealing $561,000 that he used on his own personal
expenses, including gambling. During a FINRA investigation, Kochav was
accused of failing to comply and provide necessary information to investigators.
Kochav was eventually barred from the securities industry.

Now, Kochav has been sentenced to eight years in prison, five for theft
by deception and three for money laundering charges.

Kochav was also accused of transferring money into his wife’s personal
accounts for use on dinner, airfare, shopping, and more. After he was
caught, he was ordered to pay a $2 million civil penalty, as well as $464,000
after he pleaded guilty on December 16.

If you invested and lost money with former broker Evan Matthew Kochav,
you may have the right to take legal action and seek a return of your
losses. We encourage you to call our securities fraud lawyers for a
free consultation to discuss your case. All of our cases are handled on a contingency fee
basis, meaning we don’t charge a fee unless we are able to successfully
secure compensation on your behalf.